Income Statement October 2016

Income Statement October 2016

Income Statement October 2016

Months are just flying and here comes the income statement October 2016. I’m pretty happy this month, cuz I have started generating some additional revenue. Yes, it’s not from the passive income category, but it’s still money and it can be invested into something else providing me with a passive income later on. I also found a place where I can get 10% return quite safely and easily. However, I still want to investigate it a bit further before proceeding. As with any investment, there is always a risk in your capital, but this seems like a genuine place so far. I will talk more about this further down the line if it’s worth the money.

Revenue

I keep fake investing £200 as a revenue every month. I have got £600 so far. However, it’s nothing compared to the size of expenses. Nevertheless, every business requires constant push at the start, up to the point where it starts generating enough income to help its creator out. I have also been generating some bank interest on the side, but due to the pound going downhill, the interest rates are going down too. This is why I am looking to push this investment elsewhere, so it would be generating more income than the current inflation level. Another thing I started working on is my matched-betting skills, which are generating some revenue already. I talked about this in my previous article and I’d recommend you to check it out and learn it for yourself unless you are allergic to the free cash.

Expenses

Business

There was one kinda unnecessary business expenditure related to the Jungle Scout software. It was going to increase in price, so I had to snatch it before this happened. I spent another $60 on it instead of $120. You can call it expense, I will call it an investment. Though it goes onto the expense side.

Labor

The labor includes my writing and learning hours mainly. I spent 2h on the guide of how to start earning money. It’s very short and self-explanatory, but definitely worth reading. Sometimes we manage to miss very simple things. I also wrote a few more retrospectives on my 3-month challenge where I spent another 6h. It also took me 2h to write my first-day workout plan. Another 2h were spent on my diet plan changes article. And, of course, another 2h spent on writing this article.

The majority of my time was spent on learning the matched betting technique. I also wrote an article about it and I would suggest you read it, cuz it’s quite easy money. This consumed me 10h altogether.

Conclusion

Here is my income statement October 2016. This month I have received more revenue than the previous one that’s for sure. However, I’m still in the red and expenses are way higher than the profit. We are getting there, slowly, but surely.

Subject £ $
Conversion Rate 1 1.25
Revenue ——————— ———————
Fake Investment 200 250
Interest 52 65
Matched Betting 148.81 186
Total 400.81 501
Expenses ——————— ———————
Jungle Scout Extension Pro 48 60
Server 10 12.50
Labor 552 690
Total (610) (762.5)
——————— ———————
Net Income (209.19) (261.5)

Arnold

Arnold is a Games Developer in the pursuit of happiness. Once reaching his goals managed to get lost on the blank canvas. Now he experiments on his life in a hope that one day he finds the right path to happiness. He talks about it at www.undergroundhogs.com and @UndergroundHogs.

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